Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/JPY capped at cloud top, focus on German GFK consumer confidence

EUR/JPY chart - Trading View 

  • EUR/JPY edges higher, extends minor gains for the 2nd session.
     
  • The pair is currently trading at 124.53 at 0445 GMT, up 0.11% on the day.
     
  • Japan's data on Monday was discouraging. The All Industry Activity Index for Jan, printed at -0.2%, missing the market's expectations of a 0.2% advance.
     
  • Earlier today, the Bank of Japan's (BOJ's) Summary of Opinions reiterated need for powerful easing, weighing on the yen.
     
  • Technical studies for the pair do not support major gains. Bias remains bearish.
     
  • Upside is for now capped at daily cloud top. Break above will see minor gains. Decisive breakout at 110-EMA required for any meaningful upside. 
     
  • The pair finds strong trendline support at 123.95. Break below to see further downside.
     
  • Focus now on German GFK consumer confidence index for further impetus. An above-forecast German GFK consumer confidence could support the euro higher.
     
  • The market-research group GfK's monthly survey is expected to show that German consumer sentiment will remain stable in April.

Support levels - 124 (nearly converged cloud base and trendline), 123.40 (Jan 15 low), 122.40 (June 2017 low)

Resistance levels - 125.09 (5-DMA), 125.73 (55-EMA), 126.48 (110-EMA)

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

2019-07-02 15:32:08
0m
2019-07-02 15:32:02
0m
2019-07-02 15:30:39
0m
2019-07-02 15:30:27
0m

July 2 15:00 UTC Released

DKCurrency Reserves

Actual

449.6 Stale

Forecast

Previous

451.7 Stale

July 2 13:45 UTC Released

USISM NY Biz Conditions

Actual

50 %

Forecast

Previous

48.6 %

January 31 00:00 UTC 766487766487m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 766487766487m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 778307778307m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 766487766487m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 778307778307m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 766487766487m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 766487766487m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 766487766487m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.